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Reuters
Friday,
May 16, 2008 19:02 IST |
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A down
day on Friday but our short-term indicators are still bearish and the Parabolic-SAR
has touched the price action so the dots have now switched under the price
action signaling a change to a long position under the rules of this study.
The MACD fast line is also turning up and a cross would also be bullish.
Watch the MACD carefully. Overall the chart has turned mildly bullish with
the above signals and the fact the KSE has broken above its short-term
downtrend line. (Parabolic
SAR (Stop and Reverse) study gives signals for going long or short. While the
study, the dots, is below the price action it indicates a long position but
as the trend slackens the study touches the price action and indicates a
switch to a short. It is supposed to be a constant position trading system.) |
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